Urban Farming Market Size

[170+ Pages Research Report] to surpass USD 286 billion by 2030 from USD 136 billion in 2020 at a CAGR of 2.23 % in the coming years, i.e., 2021-30.

Urban agriculture is an indoor and outdoor crop for local residents through the processing and distribution of food in and around cities. The growing worldwide urbanization leads to significant urban gardening demand. Because of lower transport costs and fresh nutritious products at competitive rates, urban Farming is gaining significance. Urban agriculture accounts for one-fifth of the total food production worldwide involved in urban Farming. Furthermore, urban agriculture is seen by offering green infrastructure and can play a significant role in global food security to provide a possible solution to the impacts of climate change. In the polluted subways around the world, the cities continue to incorporate this trend in their plans.

Market Highlights

Global Urban Farming market is expected to project a notable CAGR of 2.23% in 2030.

Global Urban Farming to surpass USD 286 billion by 2030 from USD 136 billion in 2020 at a CAGR of 2.23 % in the coming years, i.e., 2021-30. The key factors that increase urban agriculture's popularity are health and nutrition, food safety and transparency, education, urban sustainability, and the increasing demand for local foods. The production of fruit and vegetables in a limited area and increasing demand for high-quality foods are some of the factors that drive the growth of the market without pesticides and herbicides.

Global Urban Farming Market: Segments

Hydroponics segment to grow with the highest CAGR during 2020-30

Global Urban Farming market is segmented by growing medium into Hydroponics, Aeroponics, and Aquaponics. Commercial producers use the hydroponics mechanism for growth. This mechanism is more easily developed and costs less than other mechanisms (ROI). Aeroponics demands a significant initial investment to compare the investment required for a hydroponics and aeroponics institution of the same size. Hydroponic mechanism refines the most water-efficient agriculture method, with negligible wastage. Control can be effectively carried out over the amount of nutrients to be delivered to the plants, enabling control over the growth process and impacting factors such as plant growth speed and size.

Lighting segment to grow with the highest CAGR during 2020-30

Global Urban Farming is divided by component into Irrigation Component, Lighting, Sensor, Climate Control, Building Material, and Others. In traditional farming, sunlight is a vital resource. Urban agriculture, however, depends heavily on artificial light. Artificial light replaces sunlight and must have adequate light intensities for the growth of crops. The quantity and period of light are the most important aspects of lighting. Lights provide either a light spectrum such as the sun or a spectrum which satisfies the plants' needs. Differing colors, temperatures, and spectral results from the growing lights can be used to create outdoor lighting conditions and fluctuate the intensity output of lamps.

Market Dynamics

Drivers

Reduction in price of lightning mechanism

Light-emitting diodes (LEDs) are now cost-effective enough to cut farmers' overall costs. The LED technological advancements in recent years have thus supported urban farming market growth. For indoor farming applications, artificial lighting is a basic requirement. In the recent past LED prices have dropped substantially, increasing efficiency and long life. The results were higher returns on investments (ROIs) for producers and the number of urban farms with profitable production was increased. Over other technologies LED lights and inter lighting systems from horticultural growers are broadly acknowledged as they are accessible with full-spectrum and can be used for various crop types.

Increase in demand for local food

The key factors that increase urban agriculture's popularity are health and nutrition, food safety and transparency, education, urban sustainability and the increasing demand for local foods. The production of fruit and vegetables in a limited area and increasing demand for high-quality foods are some of the factors that drive growth on the market without pesticides and herbicides.

Restraint

Lack of technological know-how

Urban agriculture is a smart farming technique requiring technical knowledge. Limited knowledge about and use of advanced technologies creates an imbalance between comprehension and implementation of the concepts in the field of urban agriculture. The use of advanced solutions like cameras, sensors, automatic systems, hydroponic machine learning and, aquaponics or aeroponic systems often involves urban agriculture. Knowledgeable and skilled staff is necessary to manage these advanced systems. Machinery and computer maintenance also requires people with all technical training and upgrading expertise.

Global Urban Farming Market: Key Players

Signify

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Osram
Freight Farms (US)
AeroFarms (US)
Sky Greens (Singapore)
Spread Co., Ltd. (Japan)
Plenty (US)
Valoya (Finland)
Everlight Electronics Co., Ltd. (Taiwan)
Heliospectra (Sweden)
Other Prominent Players

Global Urban Farming Market: Regions

Global Urban Farming market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa.

Global Urban Farming in Asia Pacific held the largest market share of XX.X% in the year 2020. APAC invests in and expands its operations in other nations in the field of urban farming. Sustenir (Singapore), for example, a manufacturer of agritech, launched a 30,000 square foot vertical hydroponic farm in Hong Kong. Products from conventional agriculture are not sufficient to meet local requests; therefore, the country relies heavily on imported products. The same applies to other countries like Singapore. Agricultural systems and equipment in the region, like steering systems, guided systems, sensors, display devices, and farm management software, are widely adopted by farmers. Increasing use in various agricultural applications of technological advancements, reducing labour levels, consolidating farms, increasing population, and the increasing demand for high productivity from current farming areas are some other factor driving growth in the American Urban farming market.

Global Urban Farming Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Urban Farming Market report also contains analysis on:

Urban Farming Market Segments:

By Growing Medium
- Hydroponics
- Aeroponics
- Aquaponics
By Component
- Irrigation Component
- Lighting
- Sensor
- Climate Control
- Building Material
- Others
Urban Farming Market Dynamics
Urban Farming Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints